It's an alias for --output, which is mentioned a few times in the man page.
OUTPUT
If not told otherwise, curl writes the received data to stdout.
It can be instructed to instead save that data into a local file,
using the -o, --output or -O, --remote-name options.
OPTIONS
Options start with one or two dashes. Many of the options require
an additional value next to them.
-o, --output <file>
Write output to <file> instead of stdout.
[...]
Specifying the output as '-' (a
single dash) will force the output to be done to stdout.
(curl -o- and curl -o - act the same.)
Explicitly sending the output to stdout seems a bit redundant, since that's the default anyway. However, the man page does mention using multiple -o options for multiple URLs to download, so it might be more useful in that context.